Buying an Investment Unit in Darwin March 2015

Buying an Investment Unit in Darwin March 2015

Below is overview of research carried out today regarding new and near new property valued $500 00 - $600 000.

“Older units may have slipped a little in price, but new and near new units seem to holding their prices well. As the new units, coming on line, are ‘absorbed’, I believe units will continue to increase in value; although maybe at a slower pace than in more recent years.

There still seems to be good rental yields. A good sign that demand is still there.”

We think the FHOG is skewing the new prices by $26k upwards. 2nd hand units seem to be undervalued, good if you are buying perhaps, although ideally for you new or near new for the depreciation.
Next we think 3bedroom units are rarer and in the future may hold value better.

A fly in the ointment is that you could block and build for the upper end of your price range, avoiding the city unit market altogether …

Overview
a) There are limited, new, three bedroom properties ($500 – $600 000) for sale in the Darwin area. No.1 property is close to Darwin and within this price bracket; it gives an idea of what a new 3 bedroom unit (close to Darwin) costs. Also provides a comparison of features.
b) No.2 property is the only new 3 bedroom property located in Darwin, within price bracket. It is under construction and due for completion in 2016. The images show small living areas although area sizes quoted, seem quite reasonable. Harvey St is a precinct alongside other high rise units.
c) No. 3 listing is one of the few 2 bedroom units within price range - currently under construction. Has more features and is closer to CBD than No.4
d) No. 4 represents entry level for new 2 bedroom, 2 bathroom units on CBD fringe. Off the Plan.
e) No. 5 and No. 6 are not new but probably have some depreciation ‘effect’ still – and have been included for comparison’s sake